Performances of CNPC in 2009
Year:2010 ISSUE:21
COLUMN:COMPANY FOCUS
Click:341    DateTime:Nov.08,2010
Performances of CNPC in 2009    

China National Petroleum Corporation (CNPC) is China's largest state-owned oil company. Most of its assets are operated by its listed arm PetroChina Company Limited.
    In 2009, CNPC achieved 234 million tons of oil equivalent globally, its domestic primary processing capacity of crude oil reached more than 140 million t/a, its ethylene capacity reached 3.71 million t/a, the total length of its oil and gas pipelines reached nearly 50 000 kilometers, and the number of its gas stations reached 18 000. CNPC accounted for about 60% of China's total crude oil output, about 80% of China's natural gas output and about 40% of China's crude oil processing volume and refined oil sales volume. It leads the world in geophysical prospecting, drilling, pipelining and ground construction. In 2009, while global crude oil prices fell by 38.5%, CNPC achieved sales revenue of RMB1.22 trillion and a net profit of RMB128.6 billion, and its total assets reached RMB2.23 trillion.
   In 2009, CNPC added 630 million tons of proven oil geological reserves and 461.6 billion cubic meters of proven geological reserves of natural gas, and identified two hundred-million-ton-level oilfields and three hundred-billion-cubic-meter-level natural gas fields. In 2009, CNPC produced 103.13 million tons of crude oil, processed 125.12 million tons of crude oil and produced 80.45 million tons of refined oil and 2.99 million tons of ethylene in China.
   Faced with the shrinking demand and the poor sales of refined oil, CNPC promptly adjusted its marketing strategies and detailed its market breakdown. In 2009, CNPC achieved an annual refined oil sales volume of 88.75 million tons, up 7% year on year and a market share of 42.8%, increasing by 2.3 percentage points over the previous year; and realized a refined oil retail sales volume of 61.08 million tons, of which the retail terminals accounted for 75%; and had 17 262 gas stations with an average single-station daily sales volume of 10 tons.
   In 2009, the first phase project of the Central Asia Natural Gas Pipeline, which is China's first land-based transnational natural gas pipeline, was completed and put into operation. The western section of its second West-East Natural Gas Transmission project was completed and put into operation, which officially piped natural gas from Turkmenistan into China. In 2009, CNPC produced 68.3 billion cubic meters of natural gas, up 10.7% year on year.
   In 2009, CNPC achieved an overseas crude oil output of 69.62 million tons and an overseas natural gas output of 8.2 billion cubic meters, up 11.9% and 21.7% year on year, respectively. For the first time, its overseas crude oil processing capacity exceeded 10 million tons. Throughout the year, its total import and export value reached US$65.9 billion.
   In 2009, CNPC saved 1.82 million tons of standard coal and 41.6 million cubic meters of water, and its emission volume of COD, oil pollutants and sulfur dioxide dropped by 14%, 21.4% and 8.1% year on year, respectively.

Chronicle in 2009

On January 15th, CNPC and the Iranian National Petroleum Company signed a US$1.76 billion oilfield exploitation agreement.

On April 27th, construction of the Russian section of the China-Russia oil pipeline project jointly built and run by CNPC and Russian National Oil Pipeline Transport Company was officially started.

In early May, the core equipment of CNPC Dushanzi Petrochemical Company's 10 million t/a refining and 1 million t/a ethylene project with a total investment of RMB30 billion was successfully put into test operation.

On May 18th, construction of the China section of the China-Russia oil pipeline project was officially started in Xingan town, Mohe county, Heilongjiang province.

On June 23rd, CNPC announced the acquisition of 45.51% equity of Singapore Petroleum Company Limited from Keppel at price of US$1.02 billion.

On July 6th, CNPC Dina 2 gas field was put into test operation. It has a natural gas reserve of over 100 billion cubic meters in Tarim Basin in Xinjiang.

On July 9th, CNPC Liaoyang Petrochemical Company started building China's first 10 million t/a level refinery that processes Russian crude oil.

On July 21st, the world's largest acrylonitrile-butadiene rubber plant was completed in CNPC Lanzhou Petrochemical Company.

On July 27th, CNPC signed an agreement with Ecuador National Petroleum Company to purchase crude oil from the latter within two years and pre-pay the latter US$1 billion.

On September 21st, CNPC Dushanzi Petrochemical Company's 10 million t/a refining and 1 million t/a ethylene project was put into operation.

On October 8th, CNPC and British Petroleum Company (BP) jointly signed a preliminary agreement with Iraqi state-owned Southern Petroleum Company to develop Iraq's largest oilfield. The investment of this project will be more than US$15 billion.

On November 16th, China's first large-scale commercial coal-bed gas field project developed by CNPC was officially put into production in Shanxi province.

On December 12th, China's first transnational oil pipeline - China-Kazakhstan oil pipeline - was completed.

On December 21st, CNPC signed the Agreement on Rights and Obligations of China-Myanmar Oil Pipeline.